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France-based fintech company Next Generation NGPES has chosen global verification provider Sumsub to deliver fraud protection, identity verification, and AML compliance for its soon-to-launch payment infrastructure, which includes a euro-backed stablecoin and a unified wallet integrating digital assets with traditional finance.
The Next Generation Payment Ecosystem (NGPES) combines digital asset custody, settlement, compliance, and IBAN-based payments into a single platform. As it prepares to enter the market, Next Generation will rely on Sumsub’s suite of verification tools, which include Liveness detection, transaction monitoring, and AI-powered fraud detection to support both security and regulatory obligations.
“We have achieved DASP registration in France, secured $5 million in an international seed funding round”
Frank Cambay, COO of Next Generation NGPES, commented, “Next Generation has been rapidly building up NGPES. The past six months have marked important milestones in the history of our ecosystem. We have achieved DASP registration in France, secured $5 million in an international seed funding round, and diligently expanded our network of launch partners—including some major industry names. We are entering the market with a commitment to leveraging cutting-edge technology across all aspects of our operations. The DASP registration and the trust of our investors come with strict compliance obligations, making KYC/AML and fraud prevention critical. We’re thrilled to partner with Sumsub in this key area of development. Their deep expertise in digital assets, proven track record across numerous projects, and global reach make them the ideal partner to help us scale new heights.”
Sumsub’s systems are designed to go beyond traditional onboarding, offering full-cycle verification to catch fraud attempts after initial checks. The company reports that fraud in the cryptocurrency sector rose 48 percent in 2024, with only 29 percent of crypto firms currently meeting full Travel Rule compliance.
“Payments is a sector increasingly targeted by fraudsters”
Ilya Brovin, CGO at Sumsub, said, “We’re thrilled to be selected by Next Generation as its verification and anti-fraud partner. Payments, particularly when it involves cryptocurrency, is a sector increasingly targeted by fraudsters, who themselves are becoming more numerous and better organised. Whether by forged documents or AI-generated videos, new tech – particularly AI – is making fraud more sophisticated, and so innovative companies like Next Generation need partners who can keep up with the fraudsters. This must mean full-cycle, AI-augmented fraud detection and verification – as our data shows over three-quarters of fraud happens after initial KYC checks.”
The partnership comes as Next Generation finalizes its entry into Europe’s digital finance space, with its regulated stablecoin playing a central role in its payments model. By using Sumsub’s infrastructure, the firm aims to meet evolving European regulatory standards while safeguarding users against increasingly complex fraud schemes.
Next Generation’s NGPES will provide businesses and individuals with the ability to move funds between digital assets and fiat using a regulated, fully integrated environment. The partnership with Sumsub ensures onboarding, ongoing monitoring, and transaction-level scrutiny are aligned with global compliance benchmarks.
